According to our new research study on "Neurorehabilitation Devices Market Forecast to 2031 - Global Analysis - by Product Type, Application, and End User," the market is expected to grow from US$ 2,725.76 million in 2023 to US$ 7,086.82 million by 2031; it is estimated to record a CAGR of 12.7% from 2023-2031. Key factors driving the growth of the neurorehabilitation devices market are the rising prevalence of neurological diseases worldwide and the growing number of clinical studies on neurorehabilitation devices. However, the high cost of neurorehabilitation devices hinders the market's growth.

The scope of the neurorehabilitation devices market report includes the assessment of the market performance in North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. Asia Pacific is anticipated to register the fastest CAGR in the neurorehabilitation devices market from 2023 to 2031. Owing to the rise in geriatric population, a surge in neurological disease prevalence, and the development of neurorehabilitation devices, the market is expected to witness growth in the region. Additionally, increased awareness about neurological diseases, government support, and growing investments in the R&D of new products, support the growth of the neurorehabilitation devices market growth in Asia Pacific. China, India, and Japan are three significant contributors to the market growth in this region. Stroke is the third leading cause of death and the sixth foremost cause of disability in India. As per a study titled "Stroke in India: A Systematic Review of the Incidence, Prevalence, and Case Fatality," published in July 2021, the burden of stroke is increasing in the country. The crude incidence of stroke ranged from 108 to 172/100,000 individuals annually, and crude prevalence ranged from 26 to 757/100,000 people yearly. The need for effective rehabilitation solutions to address these disorders is becoming increasingly critical.

Rehabilitation has been revolutionized in many parts of the world by using robots, and India is experiencing a rise in research activities for the same. Restoring the ability to walk is an important task in the rehabilitation of people suffering from neurological diseases that have a significant impact on the individual's quality of life. After the paralysis stroke, it is necessary to treat the patient's mobility before 11 days of a paralysis stroke. With the help of an exoskeleton, a paralytic person can start walking during these initial days. Innovations in neurorehabilitation technologies, such as robotic rehabilitation devices and virtual reality systems, are enhancing the effectiveness of rehabilitation programs.

Parkinson's disease (PD) is a common neurodegenerative disease in the country. According to ChinaDaily, there were ~4 million patients suffering from PD in China as of February 2023, and ~1.7% of people over 65 years have been diagnosed with the disease. Neurorehabilitation devices are crucial in managing the symptoms of Parkinson's disease, which is characterized by both motor and non-motor challenges that significantly affect patients' quality of life. These devices help enhance motor function, improve gait and balance, and facilitate daily activities in patients. Technological developments in robotics and strategic efforts by companies are expected to hold potential growth opportunities for the market in China during the forecast period. In November 2023, researchers from Hong Kong developed a new robotic device for improving the gait and lower limb function of stroke patients. The mobile ankle-foot exoneuromusculoskeleton developed by Hong Kong Polytechnic University is a rehabilitation robot specially designed for stroke patients. The device developed by Hong Kong researchers is 40% more effective in stroke rehabilitation than using external mechanical forces only, supporting the neurorehabilitation devices market growth.

According to the World Population Prospectus, published by the United Nations in 2021, Japan had one of the highest life expectancies at birth (~85 years), and at least 0.5 million people are aged 65. The study "National Institute of Population and Social Security Research, Population Projections for Japan: 2015-2065" reported that 37.7% of the population in Japan will be 65 or older by 2050. The growing geriatric population is more prone to neurological diseases. According to the study titled "Current Status of Telemedicine for Parkinson's Disease in Japan: A Single-Center Cross-Sectional Questionnaire Survey," published in the National Library of Medicine in December 2021, the prevalence of PD in Japan was reported to be 50-80 per 100,000 persons, and it is rapidly increasing as aging is a major risk factor for the disease. This demographic shift is resulting in a higher incidence of age-related neurological conditions, such as strokes. As the geriatric population rises, the demand for neurorehabilitation devices to assist in recovery from these conditions is also increasing.

In September 2022, Sumitomo Pharma and MELTIN MMI entered into an agreement regarding a marketing alliance for MELTz Hand Rehabilitation System in Japan. MELTz is a neurorehabilitation device for patients suffering from hand paralysis. Receiving exclusive supplies of MELTz from MELTIN, Sumitomo Pharma is responsible for marketing MELTz while MELTIN has obtained medical device certification as a manufacturer and distributor. All these factors mentioned above are expected to create a robust environment for the expansion of neurorehabilitation devices in the country, favoring neurorehabilitation devices market growth in Japan.

Furthermore, several investments are being made in upgrading the rehabilitation devices that help in the treatment of patients suffering from neurological diseases in China, supporting the neurorehabilitation devices market growth. In April 2022, Hangzhou RoboCT Technology Development Co., Ltd. completed a US$ 15.7 million (RMB 100 million) series A+ financing round led by Fortune Capital, followed by Essence Securities, Poly Capital, and existing investor-Blue Run Ventures China (BRV China). RoboCT was the first firm in China to secure the National Medical Products Administration (NMPA) certification for its lower-limb exoskeleton robots designed for central neuropathy, including cerebral palsy, among other conditions. Concentrating on rehabilitation and elderly care, these robots are currently utilized in over 200 hospitals across China to assist individuals suffering from spinal cord injuries, strokes, or other neurological conditions. They employ intention detection technology and advanced multi-sensor information fusion technology to help patients relearn walking while also analyzing, evaluating, and responding to user intentions.

Blackrock Microsystems Inc, Hocoma AG, Medtronic Plc, Tyromotion GmbH, Ekso Bionics Holdings Inc, BIONIK, Abbott Laboratories, Renishaw Plc, EMOTIV, and BioXtreme Ltd. are among the leading companies profiled in the neurorehabilitation devices market report.

Based on product type, the neurorehabilitation devices market is categorized into neurorobotic system, brain computer interface, non-invasive stimulators, and wearable devices. Based on application, the market is divided into stroke, spinal cord injury, cerebral palsy, traumatic brain injury, Parkinson's disease, and others. By end user, the neurorehabilitation devices market is segmented into hospitals and clinics, rehabilitation centers, and home care. Geographically, the market is categorized into North America (US, Canada and Mexico), Europe (France, Germany, UK, Spain, Italy, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).


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